Sensex down 44 pts, tech stocks slide further

After sliding sharply in early noon trades, the market sentiment continues to remain bearish with steep losses in current trades. Tech stocks continue to lead the downtrend, followed by select banking, pharma and other old economy counters. Select auto and heavyweights, however, are still exhibiting gains, though slightly off their early highs.

The Sensex, as a result, is now down 44 points at 7,263, while the Nifty has extended losses by 17 points to 2,202.

Infosys has crashed 4.77% (Rs 110) to Rs 2,205. While TCS has tumbled 3.53% (Rs 47) to Rs 1,280, Wipro has shed 2% (Rs 14) to Rs 702. Satyam, too, is trading lower at Rs 492 - down Rs 9 or 1.75%.

HDFC Bank has declined 1.20% (Rs 8) to Rs 656, and SBI is trading weaker at Rs 712 - down Rs 2. ICICI Bank, however, is up 2.98% (Rs 13) at Rs 466.

HDFC has lost 3.90% (Rs 36) to Rs 893, while L&T has dropped 2.64% (Rs 33) to Rs 1,213.

Dr. Reddy's has dropped 3.17% (Rs 25) to Rs 755, and Ranbaxy is down a per cent (Rs 11) at Rs 1,050.

ITC has scaled up 1.92% (Rs 33) to Rs 1,737. While Reliance is up a per cent (Rs 4) at Rs 637, ONGC has trimmed gains on profit-taking to Rs 929 - up Rs 4.

Tata Motors is trading firm with a spurt of 3.55% (Rs 16) at Rs 464. Hero Honda (up Rs 9 or 1.58% to Rs 601) and Maruti (up Rs 6 or 1.35% to Rs 453) are holding on to their gains. Bajaj, however, has edged lower by a per cent (Rs 14) to Rs 1,384.